Fdx b fund
 

When can you remove your b fund money? Can you take it out anytime and pay the 10 percent penalty? After 59.5 without retiring? Or only after retirement.

It is my understanding that you can only get the B Fund after you retire. There may be a few exceptions. Check the Pilot Benefit Book for all of the rules.

You can ONLY remove your B-fund money after you retire. Actually, I think it's 45 days after you retire.

You can remove your 401K money anytime. If you're less than 59.5 you will most likely pay a penalty (certain exceptions). If you're over 59.5 you can move it without penalty.

MG2

You can do a "rollover" at age 59 1/2 into another retirement account with no penalty. If you need the money for something else before age 59 1/2, you can either "borrow" against it (check with you CPA and Vanguard). If you just want the money, get ready to pay the back taxes and penalties $$$$$$$.

If you retire after 55, you can get the money with no penalties.

The correct answer is that you can do an "in service rollover" of your 401k IF you're over 59 1/2.

I did this and I am glad I did.

The B fund (Money Purchase Plan) was not previously authorized for in service rollovers, however in the new contract. The MPP is going to be merged into the PRSP (401k), and in service withdrawals are authorized after age 62
(28. C. 5)

Champ 42272